Release date: 28 May 2008

Following a review of its fund portfolio, NPI has decided to close the NPI Henderson European Fund and the NPI Corporate Bond Fund from 29 August 2008.

With immediate effect, switches into these funds are no longer available to NPI customers.

As a result of this decision, any existing or future intended investment into either of these funds will have to be switched and redirected into an alternative fund.

A letter has been sent to all customers investing in the funds, informing them of the closure and advising them that they must return switch and redirection request forms to NPI by the 22 August 2008.

If NPI has not received switch or redirection instructions by 22 August 2008, NPI will switch existing NPI Henderson European Fund and NPI Corporate Bond Fund investment(s), and any future contributions, into the NPI Managed Fund and NPI Fixed Interest Fund respectively (the default funds). If customers have already reached their ten fund limit (as explained in policy terms and conditions), their investment will be switched into the respective default fund if they have previously invested in them. If not, their investment will be switched into the fund in our current portfolio which the customer last invested in.

NPI strongly recommends that customers seek advice from a financial adviser before switching their investments. If customers do not have a financial adviser, please visit the How to – Locate a Financial Adviser section for more information. Please note that financial advisers may charge for providing advice.